Create Setup for Using Revenue Contracts

This feature creates standard recognition settings and templates for the Revenue Contract and Performance Obligation objects, reducing the amount of manual setup required if you intend using multiple-element arrangements. You must still perform some setup manually, as explained in Additional Setup for using Multiple-Element Arrangements.

This feature has one automatic step to create the recognition settings and templates:

  1. Click Perform to run the step. When the step has completed, the Status changes from "Not Done" to "Done".
  2. Use the Status slider in the Feature section to enable the feature.

The recognition settings and templates created by this feature are detailed below.

Recognition Settings

The following recognition settings records are created for the Revenue Contract and Performance Obligation objects.

 

Revenue Contract

Performance Obligation

Recognition Settings Name

 Revenue Contract Performance Obligation

Settings Level

 Primary Level 2

Parent Recognition Settings

   Revenue Contract

Object

 ffrr__RevenueContract__c ffrr__PerformanceObligation__c
Parent Lookup   ffrr__RevenueContract__c

Value Type

 Revenue,Cost Revenue,Cost

Settings Type

 Actual Actual
Use in Revenue Contract FALSE FALSE
Recognition Transaction Line Lookup ffrr__RevenueContract__c ffrr__PerformanceObligation__c
Recognition Schedule Lookup   ffrr__PerformanceObligation__c
Recognition Schedule Line Lookups   ffrr__PerformanceObligation__c,ffrr__RevenueContract__c,ffrr__Engagement__c
Parent Relationship Paths   Id,ffrr__RevenueContract__c,ffrr__RevenueContract__r.ffrr__Engagement__c

Display Information

 ffrr__AccountName__c Name

Description

 ffrr__Description__c ffrr__Description__c

Start Date

 ffrr__StartDate__c ffrr__StartDate__c

End Date/Deliverable Date

 ffrr__EndDate__c ffrr__EndDate__c

Active Field

 ffrr__Active__c ffrr__ReadyForRevenueRecognition__c

Active Value

 TRUE TRUE

Include Active Value

 Include Include
% Complete   ffrr__PercentComplete__c

Completed Field

   ffrr__Completed__c

Completed Value

   TRUE

Include Completed Value

   Include
Recognition Complete   ffrr__RevenueRecognitionComplete__c
Grouped By ffrrLegalEntity__c  

Total Revenue

 ffrr__TotalAllocatedRevenue__c ffrr__AllocatedRevenue__c

Revenue Recognized to Date Value

   ffrr__RecognizedToDate__c

Balance Sheet GLA*

 9000 9000

Income Statement GLA*

 9999 9999

Fixed BS GLA Code

 TRUE TRUE

Fixed IS GLA Code

 TRUE TRUE
Total Cost ffrr__TotalCost__c Cost__c
Cost Recognized To Date Value   ffrr__AmortizedToDate__c

Balance Sheet GLA (Cost)*

 9000 9000

Income Statement GLA (Cost)*

 9999 9999

Fixed BS GLA Code (Cost)

 TRUE TRUE

Fixed IS GLA Code (Cost)

 TRUE TRUE

*The values 9000 and 9999 are placeholders. Replace them with the correct GLA codes for your business.

Recognition Templates

The following recognition templates are created for use with the Performance Obligation settings record detailed above.

  • Performance Obligation - % Complete
  • Performance Obligation - Deliverable
  • Performance Obligation - Equal Split Days
  • Performance Obligation - Equal Split Months
  • Performance Obligation - Equal Split Months/PP
  • Performance Obligation - Equal Split Months/PP with Proration
  • Performance Obligation - Equal Split 445